Churchill Downs Inc (CHDN) — Stock Correlations & Overview
Over the past year, CHDN has moved most closely with PENN, NOBL, KNG. Explore the stocks most correlated and inversely correlated with CHDN below, along with its price, financials, and company profile.
Stocks correlated with CHDN
Correlation of daily returns. Higher positive values move with CHDN; negative values move opposite it. Informational only, not investment advice.
Most correlated with CHDN
| Symbol | Company | Correlation |
|---|---|---|
| PENN | PENN Entertainment, Inc. Common StockHOTELS & MOTELS | 0.46 |
| NOBL | ProShares S&P 500 Dividend Aristocrats ETF | 0.40 |
| KNG | FT Vest S&P 500 Dividend Aristocrats Target Income ETF | 0.39 |
| BETZ | Roundhill Sports Betting & iGaming ETF | 0.38 |
| BYD | Boyd Gaming CorporationHOTELS & MOTELS | 0.38 |
Most inversely correlated with CHDN
| Symbol | Company | Correlation |
|---|---|---|
| DWSH | AdvisorShares Dorsey Wright Short ETF | -0.33 |
| HDGE | AdvisorShares Ranger Equity Bear ETF | -0.32 |
| FLYD | MicroSectors Travel -3x Inverse Leveraged ETNCOMMERCIAL BANKS, NEC | -0.27 |
| SRS | ProShares UltraShort Real Estate | -0.27 |
| DRV | Direxion Daily Real Estate Bear 3X ETF | -0.27 |
Frequently asked questions about CHDN correlations
- Which stocks are most correlated with CHDN?
- Based on one year of daily returns, the stocks most correlated with Churchill Downs Inc (CHDN) are PENN (0.46), NOBL (0.40) and KNG (0.39). A correlation near 1.00 means the two stocks' daily moves have tracked each other closely over the period.
- Which stocks are inversely correlated with CHDN?
- Over the past year, the stocks most inversely correlated with Churchill Downs Inc (CHDN) are DWSH (-0.33), HDGE (-0.32) and FLYD (-0.27). A negative correlation means the two stocks have tended to move in opposite directions.
- What does a correlation of 0.8 mean for a stock?
- Correlation measures how closely two stocks' daily returns move together, on a scale from -1 to 1. At 0.8, the two stocks have moved in the same direction on most days — though not by identical amounts. A value near 0 means their moves have been unrelated, and a negative value means they have tended to move in opposite directions. Correlation reflects past behavior and can change over time.
- How are these CHDN correlations calculated?
- We compute the correlation of daily returns between CHDN and roughly 9,000 other US-listed stocks and ETFs over the trailing one-year window, then rank the strongest positive and negative relationships. The data is refreshed monthly. It is informational and educational only — not investment advice.
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